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Share Name Share Symbol Market Type Share ISIN Share Description
One Media Ip Group Plc LSE:OMIP London Ordinary Share GB00B1DRDZ07 ORD 0.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.25 -3.36% 7.20 7.00 7.40 7.45 7.075 7.45 647,749 15:27:47
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 3.5 0.5 0.3 21.2 15

One Media iP Group Plc Formation of TCAT Limited Subsidiary

09/11/2020 7:01am

UK Regulatory (RNS & others)


 
TIDMOMIP 
 
9 November 2020 
 
                            One Media iP Group Plc 
 
                        ("One Media" or the "Company") 
 
                     Formation of TCAT Limited Subsidiary 
 
One Media iP Group Plc (AIM: OMIP), the digital music rights acquirer, 
publisher and distributor, announces that the Company has incorporated a new 
subsidiary, TCAT Limited, and appointed an experienced management team for its 
Technical Copyright Analysis Tool ("TCAT"). 
 
TCAT is a 'Software as a Service' (SaaS) platform which was developed in-house 
at One Media to detect copyright infringement within legitimate digital music 
stores. The creation of the subsidiary is part of TCAT's next phase of 
development to become a leading anti-piracy service for the music industry. 
 
TCAT currently provides a range of services to two major record labels and the 
world's largest media distributor on a retained basis, and its services are 
also used by organisations that represent the interests of the recording 
industry worldwide. TCAT Limited is based in Belfast, a leading technology hub 
with a large pool of highly qualified employees. TCAT is eligible for 
government (financial) support from (the regional development agency) Invest 
Northern Ireland. 
 
To enhance and scale TCAT for wider use across the industry and other markets, 
the Company has appointed an accomplished management team to operate the 
subsidiary, led by Dr Ed Vernon OBE, Strategic Adviser to BT Ireland, a 
Foundation Board Trustee of Queen's University, a Belfast Harbour Commissioner, 
and adviser to a number of technology businesses. Ed will be appointed 
Non-executive Chairman and holds 8% of shares in TCAT Limited under a JV deal. 
 
Ed will be joined on the Board of TCAT Limited by Robin Abeyesinhe as Chief 
Financial Officer and Chief Operating Officer, who has over 30 years' public 
and private European finance experience. 
 
Michael Infante, Chief Executive Officer of One Media iP, and Alice Dyson 
Jones, Chief Operating Officer of One Media iP and Director of the British 
Phonographic Industry (BPI), will also join TCAT Limited's Board. 
 
Dr Benoit Hudza, who currently leads a team of engineers, data scientists and 
researchers to bring Artificial Intelligence to cloud operations, has been 
appointed as an adviser to the Board of TCAT Limited. 
 
The senior management team will consist of: 
 
·       Gareth Waller as Chief Technology Officer. Gareth has significant 
experience developing highly scalable customer engagement platforms for the 
retail sector. 
 
·       Kevin King is based in New York USA (the focus of TCAT's client list) 
and as Head of International Sales will lead the sales initiative for TCAT. His 
experience in all social music destinations and his previous work with major 
record labels, digital distributors and leading digital streaming sites is 
important to the marketing of the service. 
 
·       Dr Giuseppe Malavolta, Dr Mahroo Rockni and Mr Philip Miles, all highly 
experienced software developers who have been integral to TCAT's development to 
date, will also take up positions in TCAT Limited. 
 
The team, now consisting of a number of Big Data technology industry 
professionals, will be expanded in due course to provide the expertise required 
to grow the platform and develop new initiatives and tools in music 
anti-piracy, digital music fingerprinting and music data analysis. 
 
Michael Infante, Chief Executive Officer of One Media iP, commented: "After 
four years of developing and growing TCAT's capabilities in-house, the Board 
has identified the need for TCAT to operate as an independent entity within the 
Group in order to realise its full potential. 
 
"With a number of  major  record labels already subscribing to TCAT's services 
on a retained basis, we are confident that, with the provision of additional 
resource and technical expertise to expand the software's capabilities and 
usages, there is significant opportunity to gain new  traction  within the 
industry.  Our intention is for TCAT to become a mobile anti-piracy and audit 
tool for composers and artists as we build the portal to allow for future 
application access. 
 
"Under the direction of a highly experienced and motivated management team, the 
Board has every confidence in TCAT's growth trajectory as it enters the next 
phase of its development. We look forward to providing further updates in due 
course." 
 
                                    -Ends- 
 
One Media iP Group Plc                           +44 (0)175 378 5500 
Michael Infante - CEO 
Claire Blunt - Chairman                          +44 (0)175 378 5501 
 
Cairn Financial Advisers LLP (Nominated Adviser) +44 (0)20 7213 0880 
Liam Murray 
Jo Turner 
Ludovico Lazzaretti 
 
Cenkos Securities plc (Broker)                   +44 (0)20 7397 8900 
Max Hartley 
Max Gould 
Michael Johnson (Sales) 
 
Yellow Jersey PR (PR & IR)                       +44 (0)20 3004 9512 
Charles Goodwin 
Annabel Atkins 
 
About One Media iP Group Plc 
 
One Media is a digital music rights acquirer, publisher and distributor. The 
Group specialises in purchasing and monetising intellectual property rights 
with proven, repeat income streams. One Media adds value to its content by 
maximising its availability in over 600 digital stores globally, including 
Apple Music, YouTube, Amazon and Spotify. 
 
One Media's music is also widely used for synchronisation in film, TV and 
digital gaming whilst its video content is primarily viewed on YouTube where 
One Media operates over 20 YouTube channels as a certified partner. 
 
One Media is listed on the London Stock Exchange on the AIM index, under the 
symbol 'OMIP'. 
 
For further information, please visit www.omip.co.uk and www.tcat.media 
 
Caution regarding forward looking statements 
 
Certain statements in this announcement, are, or may be deemed to be, forward 
looking statements. Forward looking statements are identified by their use of 
terms and phrases such as "believe", "could", "should" "envisage", 
"estimate", "intend", "may", "plan", "potentially", "expect", 
"will" or the negative of those, variations or comparable expressions, 
including references to assumptions. These forward-looking statements are not 
based on historical facts but rather on the Directors' current expectations and 
assumptions regarding the Company's future growth, results of operations, 
performance, future capital and other expenditures (including the amount, 
nature and sources of funding thereof), competitive advantages, business 
prospects and opportunities. Such forward looking statements reflect the 
Directors' current beliefs and assumptions and are based on information 
currently available to the Directors. 
 
 
 
END 
 

(END) Dow Jones Newswires

November 09, 2020 02:01 ET (07:01 GMT)

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